During his opening address at the G20 finance summit on Wednesday, South African President Cyril Ramaphosa expressed concern over what he referred to as “the erosion of multilaterism.” He stated, “The erosion of multilateralism poses a significant threat to global growth and stability.” Ramaphosa emphasized the importance of a rules-based order in managing conflicts and resolving disputes in a time of heightened geopolitical tension. He also highlighted the need for developing countries to have the means to combat the threats of climate change, noting that these countries are disproportionately affected by climate-induced natural disasters and calling for innovative financing and insurance mechanisms for disaster relief.

The absence of US Treasury Secretary Scott Bessent from the meeting of finance ministers in Cape Town, South Africa, was notable, coming after US Secretary of State Marco Rubio skipped a similar summit, accusing South Africa of “anti-Americanism” over its policies addressing apartheid-era inequalities. South African leaders have denied these accusations, made without evidence, with the finance ministers of India, Canada, and Japan also canceling their attendance.

Source: https://www.dw.com/en/south-africa-s-ramaphosa-defends-multilateralism-at-g20/a-71756690?maca=en-rss-en-all-1573-rdf